China’s proposed new rules on the ride-sharing industry may limit the supply of drivers working for consumer-to-consumer platforms such as Didi Chuxing, which would benefit business-to-consumer operators such as Ucar Inc., Fitch Ratings says in a report. The draft implementation details of the ride-sharing regulation, which were announced by various Chinese cities over the past […]
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Mergers and acquisitions targeting China and Hong Kong slumped to US$108.9 billion in total deal value during the third quarter, the second lowest level since the fourth quarter 2014, according to a new MergerMarket report. Similarly, M&A value during the first three quarters dropped 19.5% year-on-year to US$315.8 billion from US$392.3 billion, driven by a […]
The ratio of problem credit to total credit facing China’s banks could triple to 17% by 2020, and banks may need to raise fresh capital of up to RMB11.3 trillion (US$1.7 trillion) if the growth of China’s corporate debt does not slow, according to a report released by Standard & Poor’s Global Ratings. The amount […]
Alibaba Pictures, which counts Alibaba Group Holding Ltd. as its largest shareholder, has agreed to acquire a minority interest in American movie director Steven Spielberg’s Amblin Partners to co-produce films for the global audience. No financial details were disclosed. The partnership “marks an important milestone in our globalization strategy to reach Chinese and global audiences […]
China is the only country where investment banking revenues grew during the first nine months, while all other countries in the world’s top ten largest investment banking market saw revenues decline year-on-year, according to data released by Dealogic. By client nationality, China’s investment banking revenue increased 27% year-to-year to US$6.2 billion during the first three […]
Walmart has increased its stake in JD.com to 10.8% from 5.9%, three months after the U.S. retail giant swapped its Yihaodian unit for an initial interest in China’s second largest e-commerce firm. The move will further solidify strategic cooperation between the two companies, and potentially lead to a deeper partnership and more stake purchases by […]
On October 1, China’s RMB was included in the Special Drawing Right (SDR), an international reserve asset created by the International Monetary Fund in 1969, seven years after Chinese central bank governor Zhou Xiaochuan initially voiced the idea to an unenthusiastic global audience. But Governor Zhou has much to celebrate today, as the RMB has […]
Lu Qi, an executive vice president at Microsoft’s Applications and Services Group, is to join China’s Tencent Holdings Ltd. as Chinese technology companies continue to attract top-tier senior talent globally, Sina Technology reported citing insiders. Lu reportedly entered into a temporary leave last week because of health issues. He is still listed on Microsoft’s official […]
A total of 95 Chinese companies have raised RMB126 billion (US$18.9 billion) from initial public offerings globally during the third quarter, up 188% and 456% respectively from a low base last year, according to data released by ChinaVenture. Sixty-five companies completed IPOs in domestic Chinese exchanges, while 28 companies raised capital for the first time […]
China’s largest Internet companies, including Alibaba Group Holding and Tencent Holdings Ltd., are rushing to establish themselves as leaders in the smart car revolution with distinctively different strategies. These tech giants want to shape the future of the world’s largest automobile market, which despite a growth deceleration still expanded 7.3% in new vehicles sold last […]